The National Flag, temple prasadam, khadi fabric, and Gandhi caps may be exempt from Goods and Services Tax, but for their transportation, the Centre is considering mandating the generation of e-waybills once that system is operationalised. Transporting currency, LPG, and kerosene oil, however, w…
Tag: GSTbill
With 9 days to GST rollout, Anti-Profiteering rules still a major concern for Telangana MSMEs
With less than 10 days left for the Goods and Services (GST) regime to come into effect, apprehensions about anti-profiteering and penalties have been worrying Micro, Small and Medium Enterprises (MSMEs) in the state. So far, 85 per cent of traders across the state have registered themselves unde…
The flip side of GST: Its impact on the informal economy
The markets are gung-ho about the shift to the goods and services tax (GST). One factor driving this optimism is the anticipated shift of business from small, unorganized firms in some sectors to organized ones. Since the latter are already in the formal economy, comply with regulations, are gene…
GST enforcement will be lenient during initial period: Commerce Secretary
To allay the fears of the exporting community, the Commerce Ministry on June 21 said that enforcement would not be harsh during the initial period of GST implementation from July 1. “Any transition will require some adjustment. Exporters will get an extended two months time for filing retur…
Govt to make companies pay if they fail to pass on GST benefits to consumers
The central government on June 20 notified anti-profiteering rules to ensure that businesses pass on the benefit of reduced indirect tax to customers once the proposed goods and services tax (GST) comes into force on 1 July. Failing to pass on the GST benefits could cost businesses their registra…